- For Sale $3,825,000
- Property Type Retail - Strip
- Property Size 7,250 SF
- Date Updated Apr 12, 2024
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Attachments
Highlights
- 100% Leased to 6 E-Commerce Resistant Tenants – The asset features a robust mix of internet resilient tenants whose uses cannot be easily duplicated online. Examples include RAD Coffee, Miss Donuts & Bagel, and Mariscos Taco Shop.
- Fully NNN Leases – All of the center’s tenants are on industry standard AIR NNN leases with no caps on property taxes, insurance, or CAM.
- Diverse Tenant Mix – Unlike a single tenant asset where all the asset’s income is tied to one lease, the subject property’s income is spread across 6 tenants with no individual tenant accounting for more than 24% of the center’s income.
- Strong Income Growth – All leases feature embedded 3% annual increases. The all-cash yield grows to an estimated 7.00% by 2026.
- Limited Shop Space Competition – Strip centers (with parking included) are limited in Downtown Riverside, resulting in less competition and lower vacancy rates.
- Ideal Space Sizes Ranging from 750 SF to 1,750 SF – Retail space under 2,500 SF tends to have the largest pool of replacement tenants, reducing vacancy risk and creating more upside potential as supply remains limited.
- Clean Phase I Report & Detailed Due Diligence Package – The seller has preemptively obtained a clean Phase I environmental report dated April 2024. The due diligence package is thorough, including financial statements and sales reports for multiple tenants.
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Contacts
Greg Bedell, CCIM
Progressive Real Estate Partners
(909) 230-4500
Location
Getting Around
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Walk Score ®
Walker's Paradise (95) -
Transit Score ®
Some Transit (48) -
Bike Score ®
Very Bikeable (73)
- City Riverside, CA
- Neighborhood Downtown Riverside
- Zip Code 92501
- Market Inland Empire
Points of Interest
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Riverside–Downtown
0.67 miles
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Riverside–Hunter Park/UCR
2.72 miles
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Pedley
5.66 miles
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Moreno Valley/March Field
7.05 miles
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Riverside–La Sierra
7.82 miles
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Rialto
7.89 miles
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Fontana
8.48 miles
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Tippecanoe Avenue
9.20 miles
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San Bernardino Depot
9.26 miles
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San Bernardino Transit Center
9.38 miles
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Tesla Supercharger
0.15 miles
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Speedway Gas
0.41 miles
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Berri Brothers
0.63 miles
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Chevron
0.66 miles
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Kimi
1.00 miles
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76
1.13 miles
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Kwik Serv
1.45 miles
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Shell
1.74 miles
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7-Eleven
2.00 miles
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Arco
2.04 miles
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Lot 16
0.31 miles
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Life Arts Parking - Lot 44
0.33 miles
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Lot M
0.63 miles
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Staff Only
0.66 miles
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Lot Y
0.67 miles
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Lot W - Staff Only
0.69 miles
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Metrolink Overflow Parking
0.72 miles
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Mission Lofts
0.74 miles
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Lot K
0.75 miles
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Parking Structure
0.75 miles
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Tio's Tacos
0.11 miles
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The Lobby
0.23 miles
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Carl's Jr.
0.34 miles
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Farmer Boys
0.41 miles
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La Boulange
0.43 miles
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Pizza Hut
0.44 miles
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Del Taco
0.45 miles
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Applebee's
0.52 miles
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Sam's Bann Thai
0.57 miles
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The Old Spaghetti Factory
0.61 miles
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Maxi Foods Market
0.06 miles
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Smart & Final
0.74 miles
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Rite Aid
1.83 miles
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Stater Bros
1.88 miles
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Food 4 Less
1.88 miles
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Ralphs
1.89 miles
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Trader Joe's
1.96 miles
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Marshalls
2.05 miles
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Vons
2.06 miles
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Vacant
2.09 miles
Contact Listing Broker
Greg Bedell, CCIM
Progressive Real Estate Partners
(909) 230-4500